Saudi Arabia's Panda Retail Co. plans to open more than 20 new stores in 2025, continuing its expansion in the Kingdom, with a particular focus on Riyadh and remote areas.

This growth is part of Panda's strategy to maintain sustainable retail growth through innovation, amid a resilient Saudi retail sector that saw sales of SR37.4 billion ($9.97 billion) in Q3 2024. The Kingdom's retail sales are expected to reach $161.4 billion by 2028, and e-commerce is projected to surpass $13.2 billion by 2025. The company’s expansion will be self-funded, with no immediate need for external investment.

Panda aims for organic growth, expanding steadily to ensure sustainability without overextending its operations.

While an initial public offering (IPO) is being considered, the company is still evaluating the right time and approach.

Panda is also upgrading existing stores through its customer experience program, CXR, while competing with both local and international retailers by offering a broad range of products and maintaining a strong customer base through its loyalty program, which has over 10 million users.